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COMMITMENTS MADE; COMMITMENTS FORGOTTEN
In-house counsel often complain to each other about what they are not getting from their law firms as promised during the proposal and romancing phase. And although outside counsel may be providing services “as usual”, and don't challenge themselves to review their promises to new clients, the insiders should hold their feet to the fire. What commitments did the law firm make to you and what do you need to do to remind them that they are not delivering? Are you finding that the proposed rate structure is somehow blending into higher monthly billings? When was the last time you mentioned it? If you thought you were hiring a winner, and are seeing a dutiful brief filer, is it too late to make a change? And was one of your selection criteria the need for a broad spectrum of potential legal services, only to find the firm can't deliver due to over capacity and under staffing?If in-house counsel should be task masters insisting on receiving what they were promised, then outside counsel should be asking themselves these same questions to insure they are delivering. Don't forget the commitments made.We will continue with this theme of client expectations and the disconnect that often occurs.
In-house counsel often complain to each other about what they are not getting from their law firms as promised during the proposal and romancing phase. And although outside counsel may be providing services “as usual”, and don't challenge themselves to review their promises to new clients, the insiders should hold their feet to the fire. What commitments did the law firm make to you and what do you need to do to remind them that they are not delivering? Are you finding that the proposed rate structure is somehow blending into higher monthly billings? When was the last time you mentioned it? If you thought you were hiring a winner, and are seeing a dutiful brief filer, is it too late to make a change? And was one of your selection criteria the need for a broad spectrum of potential legal services, only to find the firm can't deliver due to over capacity and under staffing?If in-house counsel should be task masters insisting on receiving what they were promised, then outside counsel should be asking themselves these same questions to insure they are delivering. Don't forget the commitments made.We will continue with this theme of client expectations and the disconnect that often occurs.
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.